Stock exchanges of the world band together to repel cyber attacks

Posted December 19, 2013 - 02:19

The World Federation of Exchanges (WFE) announced the launch of the exchange industry’s first cyber security committee. The committee is tasked to combat systemic cyber abuse against world capital markets.

“The creation of this committee group is a significant milestone for the global exchange community,” said Ravi Narain, Chairman of the Working Committee. “Cyber security is a crucial issue to global markets, and paramount for maintaining market integrity and resiliency. We are pleased with the positive collaboration in this committee, which will transcend competitors and regions in order to tackle key issues and present best practices, and we believe that the formation will universally benefit the financial markets of the world.”

In addition to developing cyber security best practices, the Cyber Security Committee will focus on the following principles:

Establishing a communication framework among participants based on mutual trust;